|While Prince Edward Island is famous for
its culture and community life, these are inextricable
from the Island economy. Our unique way of life was built
on a solid foundation of traditional economic activities
that include farming, fishing, and forestry. Indeed,
Prince Edward Island was settled and built for the
colonial purposes of fishing and agriculture. Over the
years, these activities have grown and developed,
evolving to become more diversified and was complemented
by new industries and economic activities.
Today, people around the world enjoy a piece of Prince Edward Island through the food products, manufactured goods, and technology that we export around the world. And the world, in turn, comes to us to learn about the advancements we make in agriculture, aquaculture technology, and, of course, to experience our beautiful culture and landscape.
Over the past 275 years, farming techniques and new commodities have evolved apace with technology and global markets to assure the number one status of the agricultural industry in Prince Edward Island.
Second only to agriculture in economic importance, our tourism industry welcomes well over one million visitors to the Island each year. During this period, tourists outnumber Islanders almost ten to one.
Today the provinces third most important industry, fishing activities were what first lured European settlers to Prince Edward Island.
Covering 48 percent of the Islands land area, forests are a vital part of our economy as a source of lumber, pulpwood, and manufactured wood products.
While primary activities are part of the traditional Island way of life, value-added and high-tech industries are contributing to a new economic culture for the new millennium.